Investors are pouring money into non-fungible tokens (NFTs) as the industry keeps expanding.
The company will hold a funding round that will be led by Coatue Management, a New York-based tech-focused investment manager.
According to a November report, OpenSea’s available investment offers would increase the company’s valuation to up to $10 billion.
Currently, the company is worth $1.5 billion. This happened after OpenSea concluded a $100 million funding round in July.
Data provided by DappRadar stressed that the daily trading volume on the NFT marketplace is currently $162.5 million.
OpenSea experienced a tremendous surge in popularity last year since its launch in 2017.